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LIC’s Yuva Credit Life is a non-participating, non-linked individual pure-risk term assurance plan designed to provide financial protection against a loan liability. The policyholder selects the Basic Sum Assured, policy term and interest rate used to prepare the Risk Cover Schedule. The death benefit decreases according to the selected schedule over the policy term. The scheduled benefit may be higher or lower than the actual outstanding loan because the schedule uses an assumed equated yearly repayment basis rather than the borrower’s actual repayments. The plan is available offline through licensed agents, corporate agents, brokers and Insurance Marketing Firms.
Loan-linked decreasing term cover with flexible premium payment options
Yuva Credit Life is designed for borrowers who want life cover linked to a loan liability. Its key distinction is decreasing cover rather than a level death benefit throughout the term. Buyers should compare the Risk Cover Schedule with their loan repayment arrangement and understand that the selected schedule rate is not necessarily the interest rate charged by their lender. The brochure describes single-premium and limited-premium payment options, subject to eligibility and underwriting. No maturity benefit is payable. The premium shown on this page is an illustrative example from the brochure, not a personalised quotation.
LIC
Key Insights
Founded
1956
LIC was established 70 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
95.8% CSR, calculated as a 3-year average
LIC settles 95.8% of all claims it receives, demonstrating strong credibility.
Contact Details
022-6827 6827
Headquarters: Jeevan Bima Marg, Nariman Point, P.O. Box No. 19953, Mumbai, Maharashtra 400021, India
A non-participating, non-linked individual life insurance plan focused on death protection during the policy term.
It does not participate in policyholder profits.
The death benefit decreases according to the Risk Cover Schedule selected at policy inception.
The scheduled amount may differ from the actual loan outstanding.
The policyholder selects a schedule rate of 6%, 7%, 8%, 9%, 10%, 11% or 12% per annum.
This rate is used to calculate the schedule and is not necessarily the lender’s actual interest rate.
A single premium can be selected for eligible policy terms from 5 to 30 years.
Eligibility and underwriting conditions apply.
The 5-year premium-paying option is available for policy terms of 10 to 30 years.
The premium-paying term is shorter than the policy term.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
LIC plans and claim process
It is a non-participating, non-linked individual pure-risk plan that provides decreasing term life cover designed around a loan liability.
No. LIC’s sales brochure says it is available offline through licensed agents, corporate agents, brokers and Insurance Marketing Firms.
The stated minimum entry age is 18 and maximum entry age is 45 years, measured at last birthday.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official LIC website before purchasing.
Official Website
licindia.in
Visit the official LIC website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
The stated minimum maturity age is 23 and maximum maturity age is 75 years, measured at last birthday.
The standard minimum Basic Sum Assured is ₹50 lakh. A lower minimum may apply to eligible applicants with qualifying loans; check the current policy document for the applicable amount and conditions.
The standard maximum is ₹5 crore. Higher amounts may be considered case by case subject to underwriting and reinsurer acceptance.
The death benefit follows the Risk Cover Schedule. For limited-premium policies, it is the higher of 105% of total base premiums paid or the absolute amount assured. For single-premium policies, it is the absolute amount specified in the schedule.
Yes. The death benefit decreases over the policy term according to the selected Risk Cover Schedule.
The brochure lists 6%, 7%, 8%, 9%, 10%, 11% and 12% per annum. The selected rate is used to calculate the schedule and need not match the lender’s rate.
Yes. The brochure allows single-premium payment for eligible policy terms of 5 to 30 years.
The brochure lists a 5-year premium-paying term for policy terms of 10–30 years, a 10-year term for policy terms of 15–30 years, and a 15-year term for policy terms of 25–30 years.
No. The brochure states that no maturity benefit is payable if the insured survives to the end of the policy term.
The policyholder may surrender the cover, subject to any applicable Unexpired Risk Premium Value, or continue the policy until the end of the policy term.
Yes. The schedule uses an assumed equated yearly repayment basis, so the benefit may be higher or lower than the actual outstanding loan.
No. The plan documentation states that no policy loan is available under this plan.
A limited-premium policy may be eligible for revival within five consecutive complete years from the first unpaid premium, subject to arrears, interest, underwriting and policy conditions.
A 30-day grace period is allowed for yearly or half-yearly limited-premium payments.
The brochure provides a 30-day free-look period from receipt of the electronic or physical policy document, whichever is earlier. Permitted deductions may apply.
No. Illustrative premiums are not personalised quotations. Actual premiums depend on age, smoking status, cover, policy term, premium-paying term, schedule rate and underwriting.
The sales brochure reviewed for this entry does not list an optional rider. Confirm against the latest official policy documentation before assuming any rider is available.
The ₹4,850 annual illustration is for a 20-year-old male non-smoker with ₹50 lakh Basic Sum Assured, a 25-year policy term, an 8% schedule rate and a 15-year limited premium-paying term. Taxes are extra.
Tax treatment depends on current law and the individual’s circumstances. Consult a qualified tax adviser for current eligibility and implications.